[SMM analysis] the price of praseodymium-neodymium products is soaring.

SMM11 March 24: recently, praseodymium-neodymium prices continued to rise. According to the SMM website, during the period from November 19 to November 23, praseodymium-neodymium oxide quotations increased by 7000 yuan / ton, 6000 yuan / ton and 4000 yuan / ton respectively compared with the previous day. As of today, praseodymium neodymium oxide quoted 38.2-392000 yuan / ton, the average price rose 17000 yuan / ton compared to yesterday; metal praseodymium neodymium oxide 50-510000 yuan / ton, the average price rose 30, 000 yuan / ton; neodymium oxide reported 43.5-445000 yuan / ton, the average price rose 16000 yuan / ton; metal neodymium reported 53.5-550000 yuan / ton, the average price rose 22500 yuan / ton.

This rise began in late October. From October 19 to November 24, the average price of praseodymium-neodymium oxide rose 64500 yuan / ton, and the average price of praseodymium-neodymium metal rose 91000 yuan / ton.

Price trend of praseodymium neodymium oxide

"Click to view the quotation of SMM rare earth products.

Praseodymium-neodymium metal price trend

In response to this wave of rally, SMM believes that both upstream and downstream are helpful:

At the upstream end, the spot supply of praseodymium and neodymium is tight, and many manufacturers are delivering early futures orders, but few spot orders can be sold.

At the downstream end, the demand for NdFeB magnetic materials industry has increased, so the prices of praseodymium-neodymium, terbium and neodymium products have increased, but to varying degrees. In addition, overseas enquiries have also increased in the past half a month, European buyers have a high intention to replenish the stock, and Japanese consumers are cautious about purchasing on demand.

The domestic rare earth market was hot last week, and the prices of many products continued to rise firmly. Affected by the tight spot supply, the prices of oxides and metals such as praseodymium, neodymium, dysprosium, terbium and holmium continue to rise. SMM believes that the spot supply capacity of some rare earth products is still limited, mainly to deliver futures orders, while the order situation of downstream magnetic enterprises is OK, the inventory level is low, and there is a general demand for replenishment, so prices still have upward momentum in the short term.

A few days ago, the southern rare earths also announced the latest quotation for medium and heavy rare earth oxides. The quotations of gadolinium oxide, terbium oxide and holmium oxide all increased by 0.30, 500,000 and 60,000 yuan / ton respectively compared with last week. See the following figure for details:

On November 18, the daily meeting of the State Council clearly pointed out that to promote bulk consumption and key consumption, the primary task is to trade in old cars and home appliances and continue subsidies. With the support of the policy, the demand for magnetic materials is expected to be hotter in the future. The trend of praseodymium and neodymium will still move to a higher level! Li Chao, chief analyst of the non-ferrous steel industry at CITIC Securities, said that the price of rare earths has continued to rise recently, and with the gradual improvement of the global epidemic situation, the downstream demand for rare earths may continue to pick up and the supply side will continue to shrink under the new situation. Rare earth prices are expected to continue to rise, and it is recommended that we continue to pay attention to the strategic allocation value of the rare earth plate.